• ZodiacSF1969@sh.itjust.works
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    1 year ago

    That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.

    A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.

      • Fjaeger@sopuli.xyz
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        1 year ago

        Where is social security pitched as an investment?

        Edit. Now that I think about it, government retirement funds actually kind of fill those requirements. At least where I live.